Depreciation
The depreciation graph and accompanying table on our page detail how the 2023 VOLVO S60's price has changed annually.
For instance, while the car initially depreciated slightly in its first year, subsequent years show a significant decrease, reflecting market trends and vehicle condition over time.
Such precise data is crucial for understanding how age and market dynamics impact car values.
The average price for new (MSRP) 2023 VOLVO S60 in 2023 was $40,505.
The average price for used 2023 VOLVO S60 nowadays in 2024 is $36,000 which is 89% from the original price.
Estimated mileage driven per year is 10,146 miles.
The graph below is a depreciation curve for 2023 VOLVO S60. It shows how much this model looses per year in price. This analytics is calculated using sales records from BADVIN database.
The table below shows average price for used 2023 VOLVO S60 in each year since the year of manufacturing, current year price and projected price in the future years.
You can scroll the table horizontally to see all columns.
| Year | Average Mileage | Average Price | % Left | % Lost | ||
|---|---|---|---|---|---|---|
| 2023 MSRP | 0 mi | $40,505 | — | — | 100% | 0% |
| 2023 | 10,146 mi | $43,500 | −$2,995 | −7.39% | 107.39% | -7.39% |
| 2024 | 20,292 mi | $36,000 | +$7,500 | +17.24% | 88.88% | 11.12% |
| 2025 | 30,438 mi | $31,250 | +$4,750 | +13.19% | 77.15% | 22.85% |
| 2026 | 40,584 mi | $28,900 | +$2,350 | +7.52% | 71.35% | 28.65% |
| 2027 | 50,730 mi | $25,900 | +$3,000 | +10.38% | 63.94% | 36.06% |
| 2028 | 60,876 mi | $23,998 | +$1,902 | +7.34% | 59.25% | 40.75% |
| 2029 | 71,022 mi | $18,995 | +$5,003 | +20.85% | 46.9% | 53.1% |
| 2030 | 81,168 mi | $16,995 | +$2,000 | +10.53% | 41.96% | 58.04% |
| 2031 | 91,314 mi | $14,795 | +$2,200 | +12.94% | 36.53% | 63.47% |
| 2032 | 101,460 mi | $12,988 | +$1,807 | +12.21% | 32.07% | 67.93% |
| 2033 | 111,606 mi | $10,995 | +$1,993 | +15.34% | 27.14% | 72.86% |
| 2034 | 121,752 mi | $9,998 | +$997 | +9.07% | 24.68% | 75.32% |
Price vs Mileage
Our comprehensive analysis does not stop at depreciation; it also covers how mileage affects the VOLVO S60’s price.
With data showing detailed price points at various mileage milestones, this section helps in identifying trends and making informed decisions.
For instance, price drops at higher mileages compared to lower mileages provides insights into potential maintenance or value thresholds.
This block is particularly useful for buyers and sellers aiming to gauge the best value proposition based on vehicle mileage.
The graph below shows how mileage affects the price for 2023 VOLVO S60. This data was calculated using sales records from BADVIN database.
The table below shows average price for used 2023 VOLVO S60 by mileage and number of sales.
You can scroll the table horizontally to see all columns.
| Mileage | Average Price | Sample Size |
|---|---|---|
| 5,000 mi | $37,991 | 30 sales |
| 10,000 mi | $37,381 | 44 sales |
| 15,000 mi | $34,700 | 33 sales |
| 20,000 mi | $36,895 | 32 sales |
| 25,000 mi | $34,791 | 18 sales |
| 30,000 mi | $33,913 | 10 sales |
Frequently asked questions
The expected depreciation of a vehicle after three years can vary, but generally, cars lose a significant portion of their value within the first few years.
Mileage is considered a major factor in the depreciation of vehicles because it directly correlates with the amount of use and potential wear and tear the vehicle has undergone.
When buying a car, consider models with strong resale histories, opt for popular color and feature options, and evaluate current market trends for the best value retention.
Aftermarket modifications can affect the depreciation of 2023 VOLVO S60 either positively, by enhancing appeal to certain buyers, or negatively, by deterring those who prefer stock condition.
On average, a new car can depreciate by approximately 23% after the first year, reflecting the premium paid for new technology and immediate depreciation once it's considered used.
Proper maintenance and good condition can slow the depreciation of a 2023 VOLVO S60 by making it more attractive to potential buyers, thereby preserving more of its value.
Keeping your vehicle for about three to five years can optimize its resale value, balancing depreciation with usage and maintenance costs.
New vehicles often depreciate quickly due to rapid advancements in technology and consumer preference for the latest features, which make older models less desirable.
To minimize depreciation costs, consider purchasing a model known for retaining its value or opting for a slightly used vehicle that has already undergone initial depreciation.
Factors to consider when estimating the future resale value include the car's historical depreciation rate, current market trends, overall vehicle condition, and mileage.
Other years of VOLVO S60
2007 VOLVO S60
$6,000 average used price
2,100+ sales records
2013 VOLVO S60
$9,998 average used price
15,100+ sales records
2015 VOLVO S60
$12,988 average used price
18,400+ sales records
2019 VOLVO S60
$23,998 average used price
25,400+ sales records
2020 VOLVO S60
$25,900 average used price
21,200+ sales records
2021 VOLVO S60
$28,900 average used price
12,700+ sales records
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2023 VOLVO S60 on BADVIN
